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The VN-Index bounced back on Wednesday morning after a two-day decline on the Ho Chi Minh Stock Exchange, propped up by oil and gas stocks. A PV Gas LPG tanker. Shares of PV Gas gained 1.3 per cent to VND102,800 ($4.41) on Wednesday morning. - Photo pvn.vn The VN-Index edged up 0.39 per cent to 947.70 points with 70.5 million shares worth VND1.5 trillion (US$64.4 million) being traded by the end of the morning session. The southern market index lost more than 1 per cent in the past two days. The market breadth was positive with 164 stocks rising, 94 declining and 124 closing flat. Blue chips led the market upturn with 21 of the top 30 largest shares by market value and liquidity advancing while only seven declined. Big gainers included DHG Pharmaceutical (DHG), Vincom Retail (VRE), Hoa Phat Group (HPG), Saigon Securities Inc (SSI), Novaland Investment (NVL) and Refrigeration Electrical Engineering (REE) with each rising between 1-3 per cent. Oil and gas stocks were among big … [Read more...] about VN Index rebounds on gas and oil stocks

Bitcoin is sitting at a more than one-year high after cryptocurrencies were boosted by Facebook plans for its own digital unit. (Photo: AFP/George Frey) While geopolitical tensions and the China-US trade war continue to make waves, the key focus for now is what the US central bank plans to do with monetary policy as the tariff stand-off shows signs of impacting the world's top economy. The latest weak data saw manufacturing activity in New York state plunge into contraction this month and hit its lowest level since late 2016, reflecting steep drop-offs in new orders, backlogs and employment. Observers pointed out the reading coincided with US President Donald Trump's threat to impose tariffs on Mexico over immigration policy, which he has since withdrawn, but added that the reaction suggests how manufacturers would react to further action against China. There has been increasing talk that the Fed will cut borrowing costs for the first time in more than a decade, although the … [Read more...] about Asian markets mostly rise as Fed meeting looms

Vietnamese shares rebounded on Friday after a three-day decline thanks to the recovery of some individual large-caps. Gaining stocks outnumbered gainers by 147 to 98 on the southern market while 64 others were unchanged. - Photo ndh.vn The benchmark VN-Index on the Ho Chi Minh Stock Exchange rose 0.39 per cent to close at 953.83 points. The southern market index lost 0.43 per cent on Wednesday. More than 80.8 million shares were traded on the southern bourse, worth VND1.7 trillion (US$72 million). Gaining stocks outnumbered gainers by 147 to 98 on the southern market while 64 others were unchanged. The large-cap VN30-Index was up 0.38 per cent to 862.98 points with 18 of the 30 largest stocks by market value and trading liquidity climbing. After three consecutive declining sessions, the market indices recovered with Vietcombank (VCB) as a strong supporter with an increase of 1.6 per cent to VNĐ68,400 per share. Large-cap stocks like Vingroup (VIC), Vietjet Air (VJC), … [Read more...] about Shares rebound after three day decline

Hong Kong stocks are sharply down on uncertainty as tens of thousands of people block key roads in protest over government plans for a controversial extradition law. (Photo: AFP/Anthony Wallace) Profit takers moved in while investors keep a nervous eye on developments in the China-US trade saga and an expected meeting between Donald Trump and Xi Jinping at the G20 summit in Japan this month. The US president repeated on Tuesday that he expects to hold a face-to-face meeting with his Chinese counterpart on Osaka and said Beijing wanted a deal "very badly". US Commerce Secretary Wilbur Ross tempered expectations the leaders would reach an agreement by saying the meeting could lead to progress but not a "definitive agreement". However, he said he was confident an agreement would be reached eventually. The comments out of Washington were keeping traders on edge, though a broad narrative of central bank easing - with the Federal Reserve tipped to begin cutting interest rates and the … [Read more...] about Asian markets retreat as protests batter Hong Kong

Donald Trump warned he would hike tariffs on more Chinese goods if Xi Jinping did not attend a meeting with him at the G20 this month AFP/Nicolas ASFOURI Donald Trump's decision to drop threatened tariffs on Mexico after a last-minute immigration deal last week sparked relief across trading floors and led to hope that the row with Beijing could also end with some sort of agreement. The gains, which follow another healthy Wall Street performance, are much needed since the US president shocked markets last month by hiking levies on US$200 billion of Chinese imports, blaming backsliding over their long-running trade talks. Support is also coming from expectations the Federal Reserve will cut interest rates as soon as next month in response to a string of soft US economic data and concerns about the impact of the China stand-off. "What continues to grease the wheels of US equity markets and the one constant that keeps the S&P (500) ticking is Federal Reserve free and cheap money, … [Read more...] about Asian markets enjoy fresh rally with focus on Trump Xi meeting